Memory Devices Limited (MDL) announced that it is setting up a subsidiary company, Memory Devices (Nan Chang) Co., Ltd. in one of China’s premier industrial development zones.
The new centre, established with a paid-up capital of US$3 million, will enhance MDL’s R&D capabilities as well as boost its production of digital electronic and memory devices.
MDL is the one of the pioneer companies to set up operations in the Nan Chang High Tech-Industry Development Zone (The Zone), located in Jiangxi province. This strategy is in line with the Group's continuing efforts to lower its production costs and to hone its edge in competitive pricing.
The Zone which located in Nan Chang city was approved by the State Council as a state-level high-tech industrial development zone. It offers one of the most highly rated business environments for leading industrial companies.
MDL was established in 2001 to engage in the research and development, manufacture and sale of solid-state memory storage products for use in personal computers, laptops, servers and networks, as well as in a wide array of consumer electronics (mobile phones, digital cameras, PDAs), industrial and communications applications. The Group’s products, broadly categorized into DRAM memory modules and Flash memory products, are sold to ODM and OEM customers as well as under its own brands, such as M.tec, gizMOS and Memory Devices. MDL products can be found across Asia, including the PRC and Taiwan, Europe, the US and the Middle East. MDL’s two manufacturing facilities, with a total built-up area of 18,400 square metres and combined annual production capacity of 12.5 million units, are in the cities of Dongguan in Guangdong province and Kunshan in Jiangsu province. Both are certified as ISO9001 Quality Management Systems and ISO14001 Environmental Protection Systems.
HLN Technologies Limited (the Company) is pleased to announce the further subscription by HLN Micron Pte. Ltd. (HLN Micron) and Ms Tay Mun Hwa (Ms Tay) in HLN Metal Centre Pte. Ltd. (HMC) for the increase in capital from S$2,000,000 to S$3,000,000.
HLN Micron and Ms Tay have today subscribed for 750,000 and 250,000 new ordinary shares in the capital of HMC respectively.
Following thereon, HMC has an issued and paid up capital of S$3,000,000. There is no change in the percentage of equity held in HMC by HLN Micron.
HLN Technologies Limited ("HLN Tech") was incorporated in Singapore on 26 February 2004 and subsequently listed on 25 November 2005. It is involved in the manufacture and sale of a wide range of customized precision metallic, elastomeric and polymeric components, which are used in a variety of industries principally in the office automation, consumer electronics and automotive industries. HLN Tech has in-house material formulation and compounding facilities where it blends the mixture of elastomers and other ingredients to make rubber compound, a raw material used in the production of its precision elastomeric and polymeric components. Apart from manufacture and sale of customized precision metallic, elastomeric and polymeric components, HLN Tech also specializes in providing precision polymeric die-cutting services according to customers’ specification and requirements. As part of its enhanced corporate vision to be a preferred Global One-Stop Solutions Provider for Integrated Mechanical Components, HLN Tech expanded into the precision machining (Metallic) business. The Metallic business unit has recently launched its foray into the Memory Storage Industry and has started supplying components to this new market segment.
CNA Group Ltd. (CNA or the Group), announced that it is accelerating growth plans to ramp up its strategic focus on developing its control and automation (C&A) business in the Middle East and India. In implementing this objective of overseas expansion, CNA has initiated two important deals that would further strengthen its penetration into these two markets.
With regard to its Middle East expansion, the Group has signed a non-binding letter of intent (LoI) through its Dubai-based subsidiary, CAN Integrated Technologies LLC (CNA IT) to acquire a 26% stake in US-based American Auto-Matrix (AAM), a developer and manufacturer of building automation systems (BAS). CNA IT will purchase the associate level stake from AAM’s two major shareholders, Jordan Acquisition Group, LLC (JAG) and Croesus Partners XVI, with an option to buy out the latter’s remaining shareholding and raise its total stake to 45.5% within four years, subject to certain conditions. The majority stake in AAM will continue to remain under the control of JAG.
Concurrently in line with its expansion in India, CNA has signed a Memorandum of Understanding (MOU) with NSE-listed Zicom Electronic Security Systems Ltd (Zicom), a leading provider of design, implementation and support services for integrated electronic security systems in India. Under the MOU, CNA will restructure the shareholding of its associated company, Danlaw CNA Systems Ltd (Danlaw CNA) such that Zicom will purchase a 51% stake, CNA will retain its 40% equity and certain executives will own the remaining 9% of Danlaw CNA. Danlaw Technologies India Ltd, the Group’s current joint venture partner in Danlaw CNA, will sell off all its shareholding in Danlaw CNA. The latter’s share capital will be raised to US$500,000, and the restructured entity will be renamed as Zicom CNA Systems Ltd. The intended relationship with Zicom aims to leverage on the enormous growth potential of the booming real estate market in India by providing integrated facilities management solutions and services to residential, industrial and commercial construction.
CNA Group Ltd. (CNA) is an award-winning specialist in the provision, design, implementation and maintenance of advanced integrated control and automation systems and IT solutions that enable intelligent buildings and facilities. In late May 2006, CNA added a new dimension to its business strategy when it acquired a stake in Beijing Herocan Environmental Engineering Tech Co. Ltd (Herocan) a leading one-stop provider of water and waste treatment solutions in China. The move which allowed the Group to springboard into the fast-growing water and environmental sector in China is in line with CNA's efforts to expand into or invest in businesses with strong growth potential.
Hongguo International Holdings Limited (Hongguo or the Company) wishes to announce that the Company has incorporated two wholly-owned subsidiaries in Hong Kong known as China Ease Enterprise Limited (China Ease) and Allied Great International Holdings Limited (Allied Great) for investment holding purposes. The issued and paid-up capital of each subsidiary is HK$1.00 comprising one ordinary share of HK$1.00 fully paid.
The Board of Directors also wishes to announce that the Company intends to transfer its subsidiaries in the People’s Republic of China (PRC Companies) currently held by its wholly-owned subsidiary incorporated in the British Virgin Islands, Best Invent Holdings Limited, to China Ease and Allied Great.
The above incorporations and transfer of shares are not expected to have any material impact on the Company’s consolidated net tangible assets or earnings per share for the financial year ending 31 December 2008.
Hongguo International Holdings Limited is a specialised designer, producer and retailer of premium fashion footwear, based in Nanjing, the People's Republic of China (PRC). Since its inception in 1995, the Group has established a strong position in the China fashion footwear scene and recently extended its distribution and retail capabilities into fashion apparels carried under internationally renowned labels.
United Envirotech Ltd (UEL) was awarded a RMB 60 million Build –Operate-Transfer (BOT) contract to build a 50,000 cubic metres/day membrane based wastewater treatment and recycling facility from Mianyang Municipal Government in Sichuan Province, China. The BOT project has a concessionary period of 30 years and it will be undertaken by a project company, which UEL will own 60%. Mianyang city is one of the 3 cities granted this prestigious status of “water conservation area“ which is specially selected by the PRC Central Government to serve as a model to demonstrate self-sustained water use through effective water reuse. Mianyang City is well recognized as a high-tech research and development base for China. It hosts, among others, the research base for nuclear science and rocket science in China. The plant will use our Membrane Bioreactor (MBR) technology for treatment of municipal wastewater. The membrane based water treatment and recycling plant will feature a state-of-art public education centre similar to the Newater Visitor Centre in Singapore’s Bedok Newater Plant. The visitor centre is expected to illustrate to visitors from various parts of China and abroad the concept of city with self sustained water supply through policy formulation, planning to selection and implementation of water treatment technologies.
In Singapore, a 23,000 cubic metres/day MBR demonstration plant was commissioned by PUB to supply industrial grade water. It was reported in PUB’s press release on 15 September 2005 that, “The membrane bioreactor technology is the future for NEWater. By reducing the number of steps, it will lead to cost savings. The membrane bioreactor also requires only about one-fifth of the space needed currently. The water quality produced by the membrane bioreactor is higher than that from microfiltration/ ultrafiltration.”
This MBR Newater plant will be the first of its kind in China as well as the first major step into the municipal wastewater reclamation market for United Envirotech whose presence in municipal water market is currently limited to wastewater treatment via its Liaoyang and Xintai wastewater treatment plants under transfer-operate-transfer (TOT) arrangements.
United Envirotech Ltd., specializing in water treatment and reclamation using advanced membrane technology, provides environmental engineering solutions to a wide range of customers in the chemical, petrochemical, pharmaceutical, and wastewater treatment industries. The Group’s track record includes building what it believes to be the largest “Newater” plant in the PRC that uses its Continuous Membrane Filtration (CMF) and Reverse Osmosis (RO) technology, as well as what it believes to be one of the largest industrial wastewater treatment plant in Asia, in terms of treatment capacity, using its Membrane Bioreactor (MBR) technology. Through the years, United Envirotech has established strong working relations with their customers, which enables them to secure future contracts or referrals to new customers. Some of United Envirotech’s major customers includes China Petrochemical Corporation (Sinopec), China National Petroleum Corporation (CNPC), China National Offshore Oil Corporation (CNOOC) and Singapore Sembcorp.
Boustead Singapore Limited (Boustead or the Company) is pleased to announce that Singapore Airport Logistics Center 2 Pte. Ltd. (SALC2), a joint venture company in which the Company’s subsidiary, Boustead Mec Pte Ltd (Boustead Mec), holds a 50% interest, has entered into a conditional Put and Call Option Agreement with AMB Singapore Logistics Center 2 Pte. Ltd. (the Purchaser) dated 21 January 2008 (the Put and Call Option Agreement) in relation to the disposal (the Proposed Disposal) of a warehousing facility at 80 Alps Avenue, Singapore 498792 (the Property) for a consideration of S$46 million (the Sale Consideration).
SALC2’s principal business activities consist of owning and leasing warehouse space. The Sale Consideration of the Property was arrived at through arms length negotiations on a willing seller willing buyer basis and is to be wholly satisfied in cash. An option fee of S$460,000 will be paid by the Purchaser within 3 business days of 21 January 2008. The acquisition of the Property by the Purchaser is subject to the approval of the Final Investment Committee of the Purchaser’s ultimate holding company and, inter alia, approval having been obtained by SALC2 from the relevant authorities and the satisfactory completion of a due diligence by the Purchaser.
The proceeds from the Proposed Disposal will be used to fund the working capital needs of Boustead Mec’s intermediate holding company, Boustead Projects Pte Ltd (Boustead Projects).
Established in 1828, Boustead has transformed itself from a trading entity into a progressive global Engineering Services & Geo-Spatial Technology Group, under the current management team, led by Chairman & Group CEO, Mr Wong Fong Fui.
Global Voice Group announced that it has concluded an agreement with US/Europe/Asia VOIP Services Provider Dreamtime.net Inc. Under the terms of the agreement, Global Voice will provision host¦nex, an integrated solution comprising co-location in Frankfurt/Germany and Tier 1 IP Transit for fastest, most reliable Internet access.
Dreamtime.net, one of the world’s most dynamic software development companies, specialises in the development of VOIP services and sales channel technology. Dreamtime.net required the highest performance from a highly robust platform over which they would deliver a range of services to their burgeoning customer base.
Global Voice Group enabled Dreamtime.net with highly secure and reliable colocation in their high power density datacenter in Frankfurt. Additionally, Global Voice provided Dreamtime.net with Tier 1 IP transit, enabling Dreamtime.net with the fastest, most reliable and secure Internet access, warranting the entire solution under a single Service Level Agreement (SLA).
Global Voice Group owns and operates one of Europe’s highest capacity fiber networks and provides mission critical communication infrastructure and services to large corporations, carriers, and service providers. Constructed at a cost in excess of €1.3 billion, Global Voice Group’s all-fiber optic network uniquely combines ‘longhaul’ inter-city network linking Europe’s largest economies, with high density ‘last-mile’ metropolitan fiber networks in 15 of Europe’s leading cities. Global Voice was recently awarded the prestigious title of “Best New Entrant” by leading telecommunications publication, Capacity Magazine. The award was granted to Global Voice following their acquisition of a pan-European fiber network thus extending their unique proposition of delivering private fiber networks – an offering the judges felt is of immense value to large Corporations and carriers alike. Global Voice Group, traded as euNetworks in Europe, is headquartered in Frankfurt and publicly listed on the Singapore stock exchange (SGX: H23.SI). Global Voice is a member of euro-one, a unique collaboration of fiber optic network providers to deliver infrastructure and next generation networking solutions connecting Eastern, Central, Western Europe and North America (www.euro-one.com).
Banyan Tree Holdings Limited (BTH) wishes to announce that it has incorporated the following new wholly-owned subsidiaries (New Subsidiaries) in the Group.
Banyan Tree Indochina Holdings Pte. Ltd./ Singapore with a paid-up capital of S$1.00. Banyan Tree Indochina Management (Singapore) Pte. Ltd./ Singapore with a paid-up capital of S$1.00
The principal activity of the New Subsidiaries is that of investment holding.
Banyan Tree Holdings Limited is a leading manager and developer of premium resorts, hotels and spas in the Asia Pacific, with 23 resorts and hotels, 61 spas, 71 retail galleries and two golf courses. We manage and/or have ownership interests in niche resorts and hotels. Each resort typically has between 50 and 100 rooms and commands room rates at the high end of each property’s particular market. We have six operating business segments: hotel investment, hotel management, spa operations, gallery operations, property sales, design fees and others (design and project management, golf course operations and other businesses).
Anwell Technologies Limited announced that the Group will install its first Blu-ray Disc (BD) replication system for its California-based customer, CD-Video, in the first quarter of 2008.
The BD50 replication system that will be installed for CD Video is modular and can be upgraded to BD-DL (BD-Dual Layer) to meet increasing storage demand when market needs change.
According to studies by Understanding & Solution in 2007, world demand for BD will reach over 320 million units in 2008, and will be likely to experience a three-fold growth to over 1 billion units in 2010.
Anwell Technologies Limited is an integrated business solutions provider for the optical media replication business. We design, manufacture and sell optical media replication systems and optical media replication peripherals. We also provide customers with the necessary technical expertise, business knowledge, production systems and service support for them to succeed in the optical media replication business in both recordable and pre-recorded sectors worldwide. In FY2006, with our commitment in market expansion globally, we have successfully gained foothold in North and South Americas with our latest pre-recorded and recordable CD/DVD replication systems that provides a sound overseas customer base for future growth.
Sarin Technologies Ltd (Sarin or the Company) announced that it has entered into an agreement for IDEX Online S.A. (IDEX) to acquire a 23% equity interest in IDEX for a cash consideration of US$3.4 million of which US$0.5 million has already been advanced as a loan. An additional US$1.0 million will be paid immediately, and US$1.9 million will be paid by June 2009 if IDEX achieves certain business development milestones. The consideration amount was set following detailed negotiations, on a willing buyer-willing seller basis.
IDEX is an internationally-recognised operator of a business-to-business polished diamond traders’ network. Founded in 2000, it also publishes a leading monthly diamond industry magazine as well as maintaining a web portal for news, analyses and polished diamond price indexes. (www.idexonline.com)
As part of the agreement, IDEX has also granted Sarin an option for a period of up to 24 months to invest an additional amount of up to US$3.0 million, which would (upon and subject to the exercise of the option) bring Sarin’s total investment in IDEX up to US$6.4 million.
Sarin secured the additional investment option at a favourable price because it believes IDEX to be a strategic investment which will provide Sarin with exposure to new businesses while remaining focused on the diamond industry.
Sarin Technologies Ltd deals in the development, manufacture and sale of precision technology products based mainly on automated three-dimensional geometric measurement (metrology) for the processing of diamonds and gems. Our systems combine various hardware technologies, like electro-optics, electronics, precision mechanics and lasers. At the heart of these systems is the computer software that combines three-dimensional modelling and advanced mathematical algorithms. Our products provide smart solutions for every stage and aspect of diamond design and manufacturing, from determining the optimal yield from a rough stone, laser markings for cutting rough stones, measuring and analysing polished diamonds, inscription on polished diamonds to technology that assists sales in jewellery stores. Hence, our products increase the profit margins at all stages of the trade between the purchase price of rough stones and the price of polished diamonds. We believe that over the years, our products have changed the manner in which rough stones are processed into polished ones and in which polished diamonds are bought and sold, and have established a brand name for ourselves in the diamond industry.
Fu Yu Corporation Limited (the Company) wishes to announce that the Company had subscribed and was allotted 500,000 ordinary shares in the share capital of SolidMicron Technologies Pte. Ltd., ("SolidMicron") for a total cash consideration of S$500,000.00.
Consequently, the issued and paid up capital of SolidMicron currently stands at S$4,500,000.00.
The above investment is funded through internal resources and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Group for the financial year ending 31 December 2008.
Fu Yu Corporation Limited is now one of the largest manufacturers and suppliers of high-precision injection moulds and plastic parts in Asia. With overseas operations and plants in Malaysia and China, this operating network has allowed the Group to cater to its rapidly expanding customer base. The key markets that we serve include the information technology, telecommunications, automotive, medical, electronics and electrical appliance sectors.
Sino-Environment Technology Group Limited (the Group or Sino-Env) is pleased to announce that the Group has secured desulphurization contracts totaling RMB 181 million. Details of the contracts are as follows:
- Desulphurization contract with (Huatai Group) for the construction of desulphurization facilities for its 3 x 100 MW capacity in-house power plant in Shandong in the People’s Republic of China (PRC). The contract value is approximately RMB 63 million. Construction will commence in 2Q2008 and will be completed in approximately 12 months. Huatai Group is listed on the Shanghai Securities Exchange and the group is involved in paper manufacturing, chemical industry, printing, thermoelectricity, forest industry, logistics and commercial trading (see www.huatai.com).
- Desulphurization contract with the owners of (Fujian Putian Power Plant) for the construction of desulphurization facilities for its 2 x 400 MW capacity power plant in Fujian, PRC. The contract value is approximately RMB 118 million. Construction is expected to commence in 3Q2008 and will be completed in approximately 15 months.
Sino Environment Technology Group limited ("SinoEnv") is an environmental protection and waste recovery solution provider in the PRC. SinoEnv is the market leader in the treatment, management and recovery of volatile organic compounds ("VOC"), in particular toluene, from wastegas The company’s decision to focus on toluene is due to its high commercial value and wide usage by many industries, thereby resulting in good market potential for the treatment, management and recovery of toluene in various industries. In this respect, the company helps customers to achieve the twin objectives of treating polluting wastegas as well as recovering valuable toluene for use in their manufacturing processes.
United Envirotech Ltd. (UEL or Company) is pleased to announce that its advanced membrane based water treatment systems have been selected recently by the China Petrochemical Corporation (Sinopec) Group for 5 of the 6 demonstration plants. In addition, the Company also secured a project in Singapore from Semcorp Industries Ltd (SUT Division) (SUT) to treat industrial wastewater.
As part of the continual effort of the Sinopec Group to drive water conservation and to achieve reduction in its water consumption, it has ear-marked 6 water conservation projects to demonstrate to its group of companies the successful application of advanced technology in industrial wastewater recycling.
The 5 projects were awarded independently from Sinopec Maoming, Wuhan, Xian, Shijiazhuang and Guangzhou Branches through rigorous bidding and evaluation process participated by both local and international water treatment companies.
The Membrane Bioreactor (MBR) plant for Singapore SUT is the first MBR wastewater treatment contract awarded to UEL from SUT. UEL has completed two water recycling projects for SUT using advanced membrane technology in past two years. MBR technology is chosen because of its good treated water quality and small foot print.
Mainboard-listed United Envirotech Ltd., specializing in water treatment and reclamation using advanced membrane technology, provides environmental engineering solutions to a wide range of customers in the chemical, petrochemical, pharmaceutical, and wastewater treatment industries. The Group’s track record includes building what it believes to be the largest “Newater” plant in the PRC that uses its Continuous Membrane Filtration (“CMF”) and Reverse Osmosis (“RO”) technology, as well as what it believes to be one of the largest industrial wastewater treatment plant in Asia, in terms of treatment capacity, using its Membrane Bioreactor (“MBR”) technology. Through the years, United Envirotech has established strong working relations with their customers, which enables them to secure future contracts or referrals to new customers. Some of United Envirotech’s major customers includes China Petrochemical Corporation (“Sinopec”), China National Petroleum Corporation (“CNPC”), China National Offshore Oil Corporation (“CNOOC”) and Singapore Sembcorp.
COSCO Corporation (Singapore) Limited (COSCO or the Company) announced that its 51 percent-owned COSCO Shipyard Group (CSG) had won high-value conversion and tanker building contracts totaling US$422million (approximatelyS$608 million). The tanker building contract was awarded by a Norwegian customer to CSG’s subsidiary, COSCO Nantong Shipyard, to build 2 shuttle tankers at total value of US$171.6 million. The shuttle tankers are expected to be delivered in 2010 and 2011.
The contract carries the options for customers to buy 2 more shuttle tankers from COSCO Nantong Shipyard. The 18 conversion contracts valued at US$250 million were secured by CSG recently through its subsidiaries, Cosco Nantong Shipyard, Cosco Dalian Shipyard, Cosco Zhoushan Shipyard and Cosco Guangzhou Shipyard. The contracts were awarded by global customers from the America, China, Greece, Hong Kong, India and Korea.
Listed on the main board of the Singapore Exchange, COSCO Corporation is a diversified group with core activities in shipping and shipping related services. The Group owns bulk carriers and majority stake in the largest shipyard group in China, operates shipping agencies as well as provides marine engineering and ship repair services. COSCO Corporation is the listed subsidiary of China Ocean Shipping (Group) Company, the largest shipping group in China.
Food Empire Holdings (Food Empire or the Group) announced its sponsorship of the European Figure Skating Championships via its flagship brand, MacCoffeeTM. This is Food Empire’s second as an official sponsor of the ISU European & World Figure Skating Championships 2008, opened in Zagreb, Croatia on 21st January. The first was in 2007, which was held in Warsaw, Poland for the first time.
The ISU European and World Figure Skating Championships competition is an annual event, which attracts the best skaters from all of the European ISU member countries to compete in the categories of men and ladies. Zagreb has hosted the European Figure Skating Championships twice before, in 1974 and 1979. The Championships will be held from 21st Jan – 27th Jan 2008. 158 skaters/couples from 34 ISU members entered the Championships.
There is no Qualifying Round of skating, which all skaters/couples will compete in the Short Program and the top 24 skaters will proceed to the Free Skating. The sponsorship continues the Group’s involvement with world-class winter sports as a powerful medium to communicate its dynamic and leading brand image of 3-in-1 instant coffee mix towards its target audiences.
SGX Mainboard-listed Food Empire Holdings Limited is a leading food and beverage company headquartered in Singapore that manufactures and markets instant beverage products, frozen convenience food, confectionery and snack food. Food Empire Holdings’ products are exported to over 50 countries in markets such as Russia, Eastern Europe, Central Asia, China, Indochina and the US. The Group has 18 offices (representative and liaison) - Russia, Ukraine, Kazakhstan, Uzbekistan, Iran, Poland, Turkey, Belgium, Bahrain, Mongolia and Vietnam.
The Group’s core products include a wide variety of regular and flavoured coffee mixes and cappuccinos, instant chocolate, instant breakfast cereal and flavoured fruit teas. Food Empire also markets a refreshing range of confectionery, snack food such as dried calamari and potato crisps and a delectable assortment of frozen convenience food that includes Asian delicacies.
Midsouth Holdings Ltd. (the Company) wishes to announce that the Company's PRC wholly-owned subsidiary, Dezhou Midsouth Composite Materials Co., Ltd (the Subsidiary), has managed to secure an offer of industrial land in Shandong province, PRC (the Land) from the Lingxian Economic Development Zone Administration Bureau of approximately 21.2 hectares (318.81 mu). The Land, which will be reserved for the Subsidiary's future expansion, adjoins the Subsidiary's new manufacturing facility at Lingxian, Shandong province (the Lingxian Plant), and will be acquired for a consideration of approximately RMB 47,821,500 (the Acquisition). In addition, there is a land use fee of approximately RMB 4 per square meter payable annually to the Lingxian Tax Bureau.
The Contract in respect of the Acquisition (the Contract) was entered into on 16 November 2007, and the duration for the right to use the Land is 50 years commencing from the date of issuance of the Land Use Right Certificate. The purchase consideration for the Acquisition was arrived at on a “willing buyer willing seller” basis between the parties, and has been agreed upon after arm’s length negotiations. The purchase consideration has been paid in full by way of cash as of 31 December 2007.
With the commencement of operations of the Group’s new Lingxian Plant, the Group expects its four business segments, namely Air-con Ventilation Systems, FRP Industrial Fittings, FRP Doors & Windows and FRP & PP Vehicle parts, to be better able to capitalize on the present favourable economic environment in the PRC and expand rapidly over the next two years.
Established in 1993, Midsouth is a leading manufacturer of fibreglass reinforced plastic ("FRP") products in the PRC. The Group produces a wide range of FRP products such as FRP vehicle parts, FRP doors and windows and FRP industrial fittings. Over the years, the Group has established its market leadership in niche market segments in the FRP industry in the PRC. The Group's manufacturing facilities are recognized as amongst the most technologically advanced operations in Shandong Province, the PRC. The Group counts amongst its customers major vehicle manufacturers in the PRC such as Tianjin FAW Toyota Motor Co., Ltd, and China National Heavy Duty Truck Group Jinan Truck Co., Ltd as well as property developers, building owners, building contractors and manufacturers and suppliers of construction materials.
Asia Water Technology Ltd (the Company or the Group) announced that the Company has, through its wholly-owned subsidiary Wuhan Kaidi Water Management and Operation Co. Ltd (WKM&O) successfully acquired an additional 20 percent interest in its subsidiary, Taizhou Kaidi Waste Water Treatment Co. Ltd (Taizhou Kaidi) from the other existing shareholder Hong Kong Beicheng Environment Co. Ltd. for a cash consideration of RMB 7.8 million (the Acquisition) After the Acquisition, Taizhou Kaidi is now a wholly-owned subsidiary of the Group.
Taizhou Kaidi is located in Linghai City, Zhejiang Province in the People’s Republic of China (PRC) and was incorporated with a registered capital of RMB 40 million to undertake a Build-Operate-Transfer (BOT) wastewater treatment project for a period of 20-years. The current paid up capital of Taizhou Kaidi is RMB 25 million.
Taizhou Kaidi will build, operate and transfer a water treatment plant with an estimated treatment capacity of 50,000 tonnes of industrial wastewater per day. Once operational, Taizhou Kaidi will be treating industrial wastewater generated by Zhejiang Pharmaceutical Park located within Linghai City. The Pharmaceutical Park deals with medicinal raw materials certified at the PRC’s national level.
One of the key challenges facing mankind today is the supply of clean water. Though 80% of the earth's surface is water, less than 1% is suitable for consumption or industrial use. At Asia Water Technology Ltd, we specialise in driving large scale municipal and industrial projects, offering innovative and effective engineering solutions for water purification and wastewater treatment systems. While we strive for technological excellence, we remain dedicated to the protection of our environment and the conservation of the world's precious water resources.
Ocean Sky International Limited (the Company) announced that the Company has entered into a share sale and purchase agreement to acquire the remaining 33.3% interest in Bloom Time Trading (2002) Pte Ltd (Bloom Time) for a cash consideration of S$900,000. The number of shares is 1,208,767 ordinary shares. The purchase consideration is arrived at on a willing buyer-willing seller basis. The effective date of the transaction is 31 December 2007. As a result of the acquisition Bloom Time will become a wholly-owned subsidiary of the Company. The vendor of the shares is Mr Roland Tan Swee Hien.
The rationale for the acquisition is to enable the Company to fully integrate Bloom Time’s capabilities into the Group to improve cost efficiency, process flow and support the Group’s vision of being a fully integrated apparel supply chain provider.
The acquisition will be funded by the proceeds from the shares placement in April 2007.
A partner of choice for leading global brands, Ocean Sky is a fully integrated apparel service provider from design to distribution. Through our relentless pursuit of innovation, strategic enhancements to organizational capabilities, leveraging on opportunities for business growth, Ocean Sky has achieved success through speed, cost efficiency, quality and innovation to global customers worldwide. Established in 1995 and listed on the Mainboard of Stock Exchange of Singapore in 2003, the Group's four core business units are Corporate Services, Apparel Agency, Apparel Production and Apparel Support Services.
OSIM International Limited has confirmed collaboration with Emirates Airline to provide massage chairs for its airport lounges around the world. In its ongoing efforts to provide superlative customer care to its First and Business Class travellers, Emirates Airline will be equipping all its lounges with OSIM’s world-renowned massage chairs.
Passengers out of Singapore are the first to experience such pre-flight pampering. Tucked away in a corner of the Emirates lounge is a cozy corner which OSIM has helped turn into a chair spa – a private sanctuary for passengers needing a few moments of physical and mental pampering. The semi-private enclosure of the OSIM chair spa is custom built using premium finishes and furnishings which complement the luxurious and relaxing surroundings of the Emirates Lounge.
Emirates currently has 18 dedicated lounges at major airports across the globe, with more in development. As the installation of the massage chairs rolls out over the next few months, passengers can expect to enjoy the OSIM chairs in all the Emirates lounges.
OSIM is a global leader in branded healthy lifestyle products.
Established in 1980, OSIM is a brand management and niche marketing company with a focus on the consumer. The Group is innovation-driven and is an IP (intellectual property) developer. OSIM uses innovative selling approaches and constantly enhances its innovation capabilities to produce successful products with superior designs, features and quality. As an IP developer, OSIM controls its brands, designs, technologies and concepts.
Its business currently comes under four complementary focuses - Health, Hygiene, Nutrition and Fitness. Each focus carries the fundamental theme of well-being, lifestyle and positive attitude. Together, they reflect OSIM's holistic and integrated approach to healthy lifestyle. Today, OSIM operates a wide point-of-sales network with more than 1,100 outlets in more than 360 cities across 31 countries in Asia, Australia, Africa, the Middle East, United Kingdom and North America.
Inchem Holdings International Limited (the Company) wishes to announce that the Company’s wholly owned subsidiary, Inchem (HK) Limited, has acquired the entire issued and paid-up share capital of one (1) share at HK$1.00 at par, in Nice Bright International Limited (Nice) at a consideration of HK$1.00.
Nice is a company incorporated in Hong Kong. Its main activity is that of an investment holding. Following the acquisition, Nice became a wholly owned subsidiary of Inchem (HK) Limited.
The said acquisition is not expected to have any material effect on the net tangible assets per share or earnings per share of the Company for the current financial year.
Our Group's history can be traced to Malaysia when it was first established in 1992 to manufacture and distribute solvent borne wood coatings mainly to the wood-based industry under the INCHEM brand. Today, our Group's complete range of wood coating products can be found in over 15 countries. We have also diversified our product range and offer plastic and metal coatings. We have ample space for production, warehousing, laboratory and office facilities in 4 strategically located areas in Malaysia, Vietnam and China (Wuxi and Shenzhen) to better service the needs of our customers. We are listed on the Singapore Exchange Securities Trading Limited since 2000.
Memory Devices Limited (the Company) wishes to announce that the Company has incorporated a subsidiary company in JiangXi, Nan Chang, Peoples’ Republic of China.
Details of the company as follow: -
Name of Company: Memory Devices (Nan Chang) Co., Ltd.
Registered Capital : US$10 million
Paid-up Capital : US$3 million
Principal Activities: Research & development, manufacturing and distribution of digital electronic and memory devices.
The incorporation of the above company was funded by internal resources.
Memory Devices Limited is in the business of research and development, manufacture and sale of solid state memory storage products for use in personal computers, notebooks, servers and networks as well as a wide array of consumer electronics, industrial and communications applications.
"..Our challenges in the future would be to implement our growth strategies in the PRC and the regional markets. We intend to achieve sustainable growth through hard work and constant upgrading of our skill sets. The business environment, challenging as it may be, still holds tremendous opportunities for water treatment specialists such as United Envirotech. We believe that the increased awareness of the authorities and big MNCs, such as Sinopec, China Natural Offshore Oil Corporation and China National Petroleum Corporation, will continue to drive the demand for higher quality management of industrial waste water and recycling."
Dr Lin Yucheng
Chairman & CEO
United Envirotech Ltd